There is currently no oversupply of Corn, maize or wheat.
Cattle herd levels in Texas are very very low, due to the 100 year drought we experienced 1 year ago. It will take 5-10 years for the cattle herd levels to recover.
Now, there are feed grains that can rapidly outstrip demand.
Wheat, maize, corn can recover quickly.
Chicken & pork production can recover quickly. Cattle cannot. Cows typically have single offspring and a long gestation period. Herd levels recover slowly.
There have been price run-ups, but it is also tied to fuel, fertilizer and transportation costs.
AND the seed licensing mess concerning PVPA, title V, and patented species have made it an expensive legal nightmare. Seed licensing law is not simple nor cheap.
I assume this is good news from Brazilian cattle ranchers and US pork producers? Does lamb factor into the equation at all?
That drought spread up here to Iowa. Crop yields were amazingly better than anyone expected. Hooray to the plant breeders and the work they have done the past 20 years.
The worry here of course is the drought extending to next year. Have had some good rains the last couple of weeks so hopefully the soil will get recharged partially before winter.